According to BBC News, President Mujica has refused residence at his country's presidential 'estate,' for accommodation on his wife's "ramshackle farm." Moreover, he gives away 90 per cent of his annual salary so that he makes the average wage of his fellow countrymen.

"His charitable donations - which benefit poor people and small entrepreneurs - mean his salary is roughly in line with the average Uruguayan income of [$770] a month."

In 2010, his annual personal wealth declaration - mandatory for officials in Uruguay - was [$2,860], the value of his 1987 Volkswagen Beetle.

This year, he added half of his wife's assets - land, tractors and a house - reaching [$215,000]."

How great is that?

Needless to say, Mujica is a man who marches to the beat of his own drum.

The 77 year old has continually spoken out against excessive spending and hyper-consumption in the developed world.

The "poorest president" moniker is one he seems to relish.

"This is a matter of freedom. If you don't have many possessions then you don't need to work all your life like a slave to sustain them, and therefore you have more time for yourself," he told the BBC.